Shervani Industrial Syndicate Limited held its 78th Annual General Meeting on September 28, 2026, in Prayagraj. Shareholders approved the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026, and declared a dividend for the period.

The meeting, conducted under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, saw members vote on several ordinary and special business resolutions. Voting was facilitated through remote e-voting from September 25 to September 27, 2026, and via ballot papers for attendees present at the venue.

Key resolutions passed

Members adopted the financial statements along with the Directors' and Auditors' reports. A dividend was declared for FY26, though the specific amount per share was not detailed in the immediate disclosure text provided. The following leadership changes were also ratified:

• Re-appointment: Mr. Saleem Iqbal Shervani (DIN: 00023909) was re-appointed as a Director retiring by rotation.
• Regularization: Mr. Bal Krishna Misra (DIN: 02125239) had his appointment as an Additional Director regularized.
• Executive Director: Mr. Bal Krishna Misra was appointed as Whole-time Director designated as Executive Director via a Special Resolution.

Meeting details and attendance

The AGM commenced at 11:30 am and concluded at 1:05 pm. The quorum was ascertained by the Chairman, Mr. Saleem Iqbal Shervani. Key personnel present included Managing Director Mr. Mustafa Rashid Shervani, CFO Mr. Tahir Hasan, and Company Secretary Mr. Shrawan Kumar Shukla. Statutory Auditor Mr. P. P. Singh and Secretarial Auditor Mr. K. O. Siddiqui were also in attendance.

Governance updates

The shareholders also ratified the remuneration of Cost Auditors for the financial year ending March 31, 2027. The e-voting facility was available to all members as of the cut-off date of September 21, 2026. Subject to the receipt of the Scrutinizer's Report, all resolutions are deemed passed as of the date of the AGM.

Shervani Industrial Syndicate has fixed September 18, 2026 as the record date for determining shareholder eligibility for its FY26 final dividend. The payout follows the Board's recommendation of ₹2.50 per ordinary share and ₹6.25 per deferred share, despite the company reporting a net loss of ₹69 lakh for the fiscal year.

The company reported a net loss of ₹69 lakh for FY26, widening from a profit of ₹446 lakh in the previous year. Revenue from operations contracted sharply by 62% to ₹1,687 lakh, reflecting lower real estate sales execution.

Financial Performance

The decline in profitability was driven by a significant drop in top-line growth and higher tax expenses relative to income. Total revenue fell to ₹2,265 lakh from ₹4,868 lakh in FY25. While construction expenses rose to ₹4,033 lakh from ₹3,629 lakh, changes in inventory provided a credit of ₹3,026 lakh.

Operational Updates

Shervani Industrial continues its focus on real estate development, healthcare, and hospitality. The group housing project "Victory Towers" is progressing per schedule. The Prayagraj Development Authority has sanctioned a new project, "Unity Tower," comprising 130 residential units, alongside a commercial center named "The Point." Registration with UPRERA is pending before bookings commence.

The subsidiary, Farco Foods Private Limited, incurred a loss of ₹4 lakh due to underutilized capacity in biscuit manufacturing. Management is negotiating for higher volumes with principals to eliminate these losses.

What the Numbers Show

The financial results highlight a divergence between cash generation and reported profitability. While the company posted a net loss, it generated ₹4,444 lakh in operating cash flow, driven primarily by a ₹7,256 lakh increase in advances from customers. This suggests strong booking momentum in its real estate projects, even as revenue recognition remains subdued due to the completed contract method of accounting.

Governance and AGM Details

The company's 78th Annual General Meeting is scheduled for September 28, 2026. The AGM will address the re-appointment of Executive Chairman Saleem Iqbal Shervani and the appointment of Bal Krishna Misra as Whole-time Director designated as Executive Director. Misra will oversee finance, accounts, and corporate affairs for five years. Members can vote via remote e-voting between September 25 and September 27, 2026.